More than two years after ending their business relationship with Kanye West, Adidas has finally sold the last remaining pair of Yeezy footwear.
Following the slew of antisemitic comments made by embattled rapper in 2022, the sportswear giant distanced itself from the American musician, but this left the company with $1,300,000,000 worth of Yeezy merchandise left sitting in warehouses.
After the controversy broke, in 2023 the German brand confirmed its plans to start selling the remaining Yeezy merchandise as well as donating some of the proceeds to charity. Financial contributions were also made to organizations including the Anti-Defamation League and Robert Kraft’s Foundation to Combat Antisemitism.
Defending the über-successful brands decision to sell the stock, Adidas chief executive Bjorn Gulden, said at the time: “This is much better than destroying and writing off the inventory.”
The collaboration between Adidas and West debuted in February of 2015 with the Yeezy Boost 750 released on Valentine’s Day and the partnership also known as Ye, was at first hugely lucrative for the brand.
Ending the partnership also contributed to Adidas posting its first annual loss in more than three decades. Announcing its annual financial results on Wednesday (3.05,) Adidas said North America revenues in 2024 had fallen by two per cent, and that the loss was “solely due to significantly lower Yeezy sales”
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Author: Saul Goode
Photo: Unknown Author – Public Domain